Wentworthville. PacBrands rules out fire sale

Pacific Brands has property assets of $70 million including the Bonds site, at Wentworthville, which it could sell through transactions such as sale and leaseback if it chose to, to pay down debt of $740 million. But it was not sensible to be pursuing sell-offs in an extremely volatile market. “We would have no intention of doing that at fire-sale values,” Stephen Tierney,” the company’s chief financial officer, said in The Australian Financial Review.